NEWS

Dec. 16, 2003

RSU Announces Creation of Legacy Society

The Rogers State University Foundation has
announced the establishment of the Legacy Society, an organization of
individuals and families who have provided gifts to the university through their
estate plans.

The Legacy Society offers donors a variety of
planned giving methods to provide future support for education through wills,
real estate, life insurance policies or specially designed trusts.

"Planned gifts can provide income
and security for the donor throughout their lives while offering an unique
opportunity to establish a legacy of support for the education of future
generations," said Danette Boyle, RSU vice president for development.

Professional financial planners work
closely with individuals and families to select and establish planned giving
methods that best suit their investment and retirement plans. The RSU Foundation
also can work with a donor's own financial planner, accountant or attorney to
plan a gift. The most common methods of planned giving are wills and outright
bequests, charitable remainder trusts, life insurance, and retained life
estates.

Gifts through a will or living trust allow the
donor to retain their assets over the course of their lifetime. A bequest, which
can be a specific amount or percentage of an estate, can significantly reduce
estate tax liability, Boyle said.

The creation of a charitable remainder trust or
annuity allows donors to make a gift to the university while continuing to
receive income from the gift during the course of their lifetime or a certain
number of years. Through this method, the donor will receive an immediate
charitable gift tax deduction and can avoid capital gains tax.

By purchasing a life insurance policy and naming
the university as the owner and beneficiary, donors can receive charitable gift
tax deductions for each premium payment. In addition, paid life insurance
policies that may no longer be needed can be contributed to the university,
allowing the donor to receive a charitable gift tax deduction approximately
equal to the cash surrender of the policy.

Gifts of a home or farm can be made without
giving up the use of the property during a donor's lifetime. Provisions can be
made for a spouse or loved one to live at the property during their lives.
Donors can receive a charitable income tax deduction based on their age and the
value of their property.

Any planned gift can be designated for a specific academic program of the
donor's choice, or without restrictions to be used for the priorities of the
university.